Macquarie Group Ltd. lowered its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 61.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,579 shares of the real estate investment trust’s stock after selling 524,997 shares during the period. Macquarie Group Ltd.’s holdings in Simon Property Group were worth $61,008,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Simon Property Group by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 46,969,966 shares of the real estate investment trust’s stock valued at $8,694,610,000 after acquiring an additional 286,464 shares in the last quarter. State Street Corp boosted its holdings in Simon Property Group by 1.5% in the third quarter. State Street Corp now owns 21,765,492 shares of the real estate investment trust’s stock valued at $4,084,730,000 after acquiring an additional 312,995 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Simon Property Group by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 10,572,677 shares of the real estate investment trust’s stock valued at $1,950,967,000 after buying an additional 363,337 shares in the last quarter. Capital World Investors boosted its holdings in shares of Simon Property Group by 2.7% during the 4th quarter. Capital World Investors now owns 8,610,404 shares of the real estate investment trust’s stock valued at $1,593,872,000 after buying an additional 226,271 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Simon Property Group by 634.5% during the 3rd quarter. Wellington Management Group LLP now owns 7,370,089 shares of the real estate investment trust’s stock valued at $1,383,145,000 after buying an additional 6,366,711 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.
Simon Property Group Stock Performance
Shares of SPG stock opened at $218.79 on Friday. Simon Property Group, Inc. has a 12 month low of $155.44 and a 12 month high of $220.44. The stock has a market cap of $70.95 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 3.88 and a beta of 1.31. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 4.68. The company’s fifty day moving average price is $203.01 and its 200-day moving average price is $193.75.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $2.25 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $9.00 annualized dividend and a dividend yield of 4.1%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. Simon Property Group’s payout ratio is presently 62.54%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Morgan Stanley boosted their target price on shares of Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday. UBS Group boosted their target price on shares of Simon Property Group from $189.00 to $199.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Scotiabank boosted their target price on shares of Simon Property Group from $192.00 to $206.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Finally, Stifel Nicolaus boosted their target price on shares of Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $205.79.
Read Our Latest Stock Analysis on SPG
About Simon Property Group
Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.
Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.
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